Victory Capital Management Inc. Increases Stock Holdings in Minerals Technologies Inc. $MTX

Victory Capital Management Inc. boosted its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 295,972 shares of the basic materials company’s stock after buying an additional 9,395 shares during the period. Victory Capital Management Inc.’s holdings in Minerals Technologies were worth $18,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MTX. JPMorgan Chase & Co. increased its position in Minerals Technologies by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company’s stock valued at $9,727,000 after acquiring an additional 30,443 shares during the last quarter. American Century Companies Inc. grew its holdings in Minerals Technologies by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after purchasing an additional 216,453 shares during the last quarter. Isthmus Partners LLC raised its position in Minerals Technologies by 52.7% in the 2nd quarter. Isthmus Partners LLC now owns 30,722 shares of the basic materials company’s stock worth $1,692,000 after purchasing an additional 10,602 shares during the period. CW Advisors LLC lifted its stake in Minerals Technologies by 104.7% in the second quarter. CW Advisors LLC now owns 21,940 shares of the basic materials company’s stock worth $1,208,000 after purchasing an additional 11,224 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in Minerals Technologies in the second quarter worth about $433,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the sale, the insider owned 84,349 shares of the company’s stock, valued at approximately $5,221,203.10. This trade represents a 21.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTX has been the topic of several recent analyst reports. Truist Financial increased their price target on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. Finally, Zacks Research upgraded shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.00.

Minerals Technologies Stock Up 0.7%

Shares of Minerals Technologies stock opened at $67.90 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -133.12 and a beta of 1.24. The firm’s 50-day moving average is $68.58 and its two-hundred day moving average is $63.34. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $75.29.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The business had revenue of $519.50 million during the quarter, compared to the consensus estimate of $517.83 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 13th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies’s dividend payout ratio is currently -94.12%.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.